How many of you have thought, “If I

How many of you have thought, “If I just wait until the last few seconds of an auction to place a bid I can get a “steal of a deal”. Many eBayers think that if they wait to place a bid on an item they can win it for a great place. Unfortunately, many of them find out that someone else has already entered a higher bid and they lose the item. Or worse yet, their computer crashes or they are away from their computer and forget to place a bid. When I started buying things on eBay I always wondered why I was losing auctions. If you wait until the last few seconds of an auction to place a bid, you have to be prepared to walk away without the item. So you may be asking “how can I win an item for a reasonable price and still not have to be around 24 hours a day?” One of the best ways to win items is to use the maximum bid option. When you place a bid on an item the price only goes up based on the number of bids that have been placed. The best way to describe this is with an example. Let’s use a CD for an example. Say you are watching a U2 CD that has 4 days left. 1. There is already one bid (for the starting price of 0.99). 2. You know you are going to be out of town when the auction ends, so you figure you can’t win this auction. But wait!!! 3. Decide how much you are willing to spend for this CD. In this example we are willing to pay $8.00. 4. We place a bid and using eBay’s maximum bid feature we enter $8.00. This does NOT mean that we will have to pay $8.00 for the CD, however. Let’s assume that the first bidder was only willing to pay $0.99. In this case our bid does up to $1.04, not the $8.00 that we bid. 5. Now let’s assume that (with 5 minutes left in the auction) a second bidder enters a $6.00 bid. Our bid still will not go up to $8.00. In this case our bid would only go up to $6.25. 6. The auction ends with no other bids, meaning we have won this auction for $6.25. The $8.00 maximum bid that we placed does not matter, we only have to pay $6.25!!! So as you can see, there are ways to win auctions without having to guard your computer 24/7. Decide how much you are willing to bid for an item and place that bid early. Sure, there may be times when someone is still willing to pay more than you, but at least you won’t lose the item because of something out of your control.

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